The Reason That the Supply Curve for Labor in a Purely

question 47

Multiple Choice

The reason that the supply curve for labor in a purely competitive market rises is because:

• A) the wage rate paid to workers falls as more are hired.
• B) the marginal product of labor falls as output increases.
• C) marginal resource cost rises as productivity increases.
• D) higher wages must be paid to bid workers away from other opportunities.

---

Definitions:

Control Limits

Statistical boundaries defined in process control that identify the maximum and minimum values expected for a process to remain in control.

Inside Diameter

The distance across the inside circle of a cylindrical object or space, measuring from one inner edge directly across to the opposite inner edge.

Piston Rings

Circular metal components fitted into the grooves on the outer diameter of a piston in an internal combustion engine, designed to seal the combustion chamber, control engine oil consumption, and support heat transfer.

Control Chart

A statistical tool used to monitor a process over time for variability and detect trends, shifts, or outliers in the process.